As reported two weeks ago, the bankruptcy exemption bill, S. 7034, was passed by both houses of the legislature, but was being held up pending passage of a new bill, S. 8451, which exempts New York State and its municipalities from the new $4,000 judgment debtor car...
Bankruptcy Code section 511, enacted in 2005 as part of BAPCPA, requires secured tax claims to be paid statutory interest rates in a Chapter 13 case. In Monroe County, New York, the statutory interest rate for delinquent property taxes is 18%. So, if a property owner...
As previously reported, both the New York State Assembly and the Senate have passed S. 7034, a bill that updates and modernizes bankruptcy exemptions. The bill has not yet been submitted to the Governor for signature. According to a person in the office of Senator...
This is a continuation of my first blog on the history of New York bankruptcy and judgment debtor exemptions, which went up to the exemption statutes through 1824, which were brought together into one section when New York consolidated its statutes in 1829. The...
In Re Wisotzke 392 B.R. 39 (Bky.W.D.N.Y. 2008) (Chapter 13 bk 08-21178; Judge Ninfo; decision August 14, 2008) The debtor filed a chapter 13 petition the day that Ontario County, NY, was selling his residence in a tax foreclosure sale. The County argued that the...